Sunday, November 30, 2014

Ex-Italian PM Berlusconi proposes new currency to tackle economic crisis

Former Italian Prime Minister Silvio Berlusconi has offered to create a new currency in the country to be used along with the euro, claiming that Italy needs to restore its monetary sovereignty to overcome the ongoing economic crisis.

“[The] second currency may be printed and released to the market, which then will determine its exchange rate to the euro,” Berlusconi told his supporters via telephone during No Tax Day, which took place on Saturday.

Printing its own money would help Italy restore its monetary sovereignty, which could help overcome the crisis, Berlusconi added.

“We cannot go on with this euro, we must improve the European monetary policy and achieve equality of the dollar and euro interchange,” Berlusconi said, as quoted by TASS. “We must bring back our right to print money and establish monetary market exchange, it is quite possible.” .... http://rt.com